American Technology Research analyst Shaw Wu said he has looked at the Zune documents that Toshiba filed last week with the Federal Communications Commission and is not impressed.

“We are frankly underwhelmed by the much-hyped Zune device,” Wu said in a research note on Wednesday. “It appears that the Zune is essentially a repackaged Toshiba Gigabeat that has seen limited success.”

American Technology Research analyst Shaw Wu said he has looked at the Zune documents that Toshiba filed last week with the Federal Communications Commission and is not impressed.

“We are frankly underwhelmed by the much-hyped Zune device,” Wu said in a research note on Wednesday. “It appears that the Zune is essentially a repackaged Toshiba Gigabeat that has seen limited success.”